April 4, 2005 News Archive

Comments Requested on Proposed Classification of Commercial Credit Exposures offsite link
The federal regulatory agencies requested comment on proposed changes to the supervisory framework for the classification of commercial credit exposures. The proposed guidance would replace the current commercial loan classification system categories--"special mention," "substandard," and "doubtful"--with a two-dimensional framework.

Comments are due by June 30, 2005. Financial institutions and the public will receive notification via Regulatory Update.

Agencies Announce Answers to Frequently Asked Questions About New HMDA Data offsite link
In a joint press release, the federal financial regulatory agencies and the Department of Housing and Urban Development (HUD), announced the release of a set of "Answers to Frequently Asked Questions" (FAQs) (PDF, 76KB) that address the home loan price data disclosed this year for the first time under the Home Mortgage Disclosure Act (HMDA).

Joint Statement on Providing Banking Services to Money Services Businesses offsite link
In a joint statement, the Financial Crimes Enforcement Network (FinCEN) and the federal financial regulatory agencies expressed their expectations regarding financial institutions' obligations under the Bank Secrecy Act (BSA) for money services businesses, such as check cashers and money transmitters. (PDF)